[DBR]

Are there credit unions that individuals can join that are not related to an employer or the federal, state, county or city governments or military? Is this something the employer always has to set up or what?

 

[no_fair_fights]

You mean like a local credit union? They're a dime a dozen.

 

[brookman007]

DBR- I belong to a credit union. It was establised in the 30's for employees of a steel co. in Pennsylvania. However, in the 80's they ammended the charter and now serve as a community credit union. It's similar to any other bank. They do claim to be a 'not for profit entity' to any specific group of sharholders. Most people I know who bank there have never worked in the steel industry.

 

[Tenfeathers]

They are a good deal, we get a dividend every year if there is a profit.
Lower interest rates on loans, get a little better on CD"s.

That is just mine.

 

[Hick Industries]

My local CU opened to the entire community about 15 yrs ago. They are not allowed to invest in all the same things as a bank, ie my CU can not invest in a derrivative. The can make home and commercial loans, auto loans, and personal signature loans.

I've been checking their bad loan ratio and their profit statements for three years. They had to write of some bad commercial loans the first 18 months of the debt crisis. Now they are in pretty good shape.

 

[nobama12]

I worked at one for GM. .... they want members.... call them, they will invent a relative to make you qualify for membership.

 

[no_fair_fights]

Just remember that during the banking thing, ONLY Credit Unions were truly safe since they are not allowed by law to expose their portfolio to high risk investments.

 

[DBR]

Well, all the good things you folks are talking about is why I would like to find one that will let me be a member. Unfortunately, the only ones I can find so far are for federal or state employees. So far...still have to do some looking.

 

[Rascals]

Well, all the good things you folks are talking about is why I would like to find one that will let me be a member. Unfortunately, the only ones I can find so far are for federal or state employees. So far...still have to do some looking.

Well doesnt that kinda awnser your own question. Well at least part of it. Im not trying to be a jerk but think about it all the state people want them. Well you know they always get the best and leave the common people sucking wind.

 

[aramchek]

The state is the biggest employer in my state, so those employees ARE the common people. And the state isn't such a great employer (they recently laid everyone off, shut down the government, have been on a hiring freeze, salary freeze, worse benefits every year, etc.). Personally, I wouldn't bank at a state credit union.

But we also have county credit unions, I believe they are open to anyone (or maybe just people who live in that county). Not just for county workers. So if you need to use a bank, these seem to be one of your better options.

Well doesnt that kinda awnser your own question. Well at least part of it. Im not trying to be a jerk but think about it all the state people want them. Well you know they always get the best and leave the common people sucking wind.

 

[Nately]

I have worked for credit unions in the St. Louis area for a number of years. It depends on your state. In Missouri, you can join a credit union if they have a branch in your zip code. The credit unions found a way around this by making it that an ATM is considered a branch. So most of the credit union have placed ATMs at various shopping centers etc.

 

[NotARoleModel]

Are there credit unions that individuals can join that are not related to an employer or the federal, state, county or city governments or military? Is this something the employer always has to set up or what?

Many. I've joined two or three whenever they offer some crazy short term cd "teaser" rate.

They let you open an account usually with $5.

 

[NotARoleModel]

Are there credit unions that individuals can join that are not related to an employer or the federal, state, county or city governments or military? Is this something the employer always has to set up or what?

Try PenFed.

The claim you have to be military but I just filled out the online app, left all the military stuff blank, submitted it and voila they let me join.

All to get their Visa which gives you 5% rebate on ALL gasoline purchases anywhere with no limits and they put the rebate amount automatically on your next month's balance.

I had to open a checking account with $25 but that was it.

 

[SnakeRanch]

Check around. We had reciprocal privileges, years ago I financed a new Harley thru the SFPD credit union. First time I got stopped for speeding, they looked at the registration and said, have a nice day... Next day I re-fied my truck from them, too...

 

[blackkitty]

They are socialist banks...not-for-profit cooperative institutions. Very competitive rates...at least mine is for my mortgages.

Search here...

http://cuonline.ncua.gov/CreditUnionOnline/CU/FindCreditUnions.aspx

 

[bulrush]

Open membership credit unions are more common west Michigan, but they can be VERY hard to find in other areas of Michigan. At least around 1987-1990.